So the latest real estate numbers have been fairly positive but unfortunately they are laced with artificial sweeteners and they can’t be believed.
Let’s see:
We have the $8,000 tax credit that was set to expire and wasn’t extended until late in the month. So demand had to be pulled forward.
We have foreclosures and short sales moving up the real estate curve so these new distressed sales actually raise the average price.
Various supply constraints of loan workouts, extended short sales, etc.
In the end this reporting period will likely look like a blip rather than a trend as the subsequent months show reduced demand and increased supply.
We are not out of the woods just yet
Good Investing
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